THE DEBTS TANGLE.

Wairarapa Age, 20 December 1932, Page 5

THE DEBTS TANGLE.

HOOVER STILL DESIROUS OF COMMISSION. CONGRESSIONAL OPPOSITION UNCHANGED. IN SPITE OF EUROPEAN DEFAULTS. (Received Monday, 5.5 p.m.) WASHINGTON, December 18 - There was a possibility to-night that President Hoover might despatch to Congress on Monday a special Message on war debts, renewing his recommendation for a commission to review the tangle of international financial obligations. The Secretary of the Treasury (Mr Mills) and the President held a lengthy conference to-day, at which ■ they reviewed the debts communications. The recommendation for a commission undoubtedly -will meet with stiff Congressional opposition. Despite hopes in some Administration quarters that the recent debt defaults might alter the temper on Capitol Hill, a recent canvass showed little possibility of the adoption of the recommendation. ACTION DELAYED. HOPE THAT FRANCE MAY ELECT TO PAY. (Received Monday, 7 p.m.) WASHINGTON, December 18. It is understood that President Hoover is now withholding his Message to Congress on foreign affairs, hoping that the reorganised French Cabinet will reconsider the default, which many observers believe to be likely. In a radio broadcast to night, Mr. Julius Klein, Assistant-Secretary of Commerce, who is considered to be President Hoover’s spokesman, declared that a discussion on debts and tariffs at the World Conference, inevitably reversing the earlier Administration stand, must be kept off the agenda. He also implied that co-operation with Mr. Roosevelt would bo sought in the formation of a preliminary American policy. GOLD BEING SHIPPED. COMPLETE PAYMiENT BY END OF YEAR.

RUGBY, December 17. In connection with recent war debt payment, gold shipments from Britain to the United States will be effected before the end of the year. Consignments of nearly £2(300,000 each, are already on the high seas, and £9,000,000 more will be shipped in five liners, leaving at various dates in the next two weeks.